Plains All American Pipeline LP Stock Forecast

Plains All American Pipeline LP stock price up 1.77% on Thursday
(Updated on May 02, 2024)

PAA Signals & Forecast

Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Plains All American Pipeline LP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $17.66 and $17.65. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 08, 2024, and so far it has fallen -8.74%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, February 09, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Plains All American Pipeline LP stock

On the downside, the stock finds support just below today's level from accumulated volume at $16.36 and $15.40. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Plains All American Pipeline LP finds support just below today's level at $16.36. If this is broken, then the next support from accumulated volume will be at $15.40 and $15.35.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.330 between high and low, or 1.95%. For the last week, the stock has had daily average volatility of 2.08%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (PAA) For The Upcoming Trading Day Of Friday 3rd

For the upcoming trading day on Friday, 3rd we expect Plains All American Pipeline LP to open at $17.15, and during the day (based on 14 day Average True Range), to move between $16.86 and $17.60, which gives a possible trading interval of +/-$0.370 (+/-2.15%) up or down from last closing price. If Plains All American Pipeline LP takes out the full calculated possible swing range there will be an estimated 4.30% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $17.26 (0.17%) than the support at $16.36 (5.05%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Plains All American Pipeline LP stock A Buy?

The Plains All American Pipeline LP stock holds several negative signals and despite the positive trend, we believe Plains All American Pipeline LP will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.332 Sell Candidate Unchanged

Predicted Opening Price for Plains All American Pipeline LP of Friday, May 3, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.